The invention relates to a thread cutting device in a circular knitting machine for the production of hosiery goods, which contains a stationary cutting blade arranged on the dial, a circular cutting saw and a shaped element arranged above it so that on the part of the arc of the dial disposed in front of the stationary cutting blade the shaped element covers the teeth of the circular cutting saw.
It is known that in the circular knitting machines with a cutting device of the above mentioned type as is, for example, described in Czechoslovak Pat. No. 173,598 when knitting socks with cut-out panel patterns, the ends of the threads are so short, that when stretching and extending the fabric, a transfer to the fabric face takes place. This deteriorates the product quality of the knitted fabric.